H & M Hennes & Mauritz AB Full-year report

The nordic cothes giant keeps growing and creating new jobs.

H & M Hennes & Mauritz AB Full-year report for 1 December 2015 — 30 November 2016.

• The H&M group’s sales including VAT increased by 7 percent in local currencies during the financial year. Converted into SEK, sales including VAT increased by 6 percent to SEK 222,865 m (209,921). Sales excluding VAT amounted to SEK 192,267 m (180,861). 
• Gross profit increased to SEK 106,177 m (103,167). This corresponds to a gross margin of 55.2 percent (57.0).
• Profit after financial items amounted to SEK 24,039 m (27,242). The group’s profit after tax amounted to SEK 18,636 m (20,898), corresponding to SEK 11.26 (12.63) per share. Profits during the year were negatively affected by increased mark-downs but also by higher purchasing costs from the strengthened US dollar.
• Very strong expansion during the year with a total net addition of 427 (413) new stores and 11 new H&M online markets. At the end of the financial year H&M had 35 online markets and the number of stores amounted to 4,351 in 64 markets.
• 13,000 new jobs were created in the H&M group in 2016. The number of employees amounted to more than 161,000 (148,000) at the end of the financial year.
• Continued strong online development for all brands both as regards sales and profitability.
• Strong sales growth for COS, & Other Stories, Monki, Weekday and H&M Home.